Hims & Hers Health, Inc. - HIMS STOCK NEWS

Hims & Hers Health (NYSE: HIMS) has revealed significant challenges in accessing branded GLP-1 medications across the US, with nearly 80,000 individuals on their platform reporting access difficulties. The company has launched a GLP-1 Supply Tracker to gather data on medication accessibility issues. In just one week, almost 7,000 individuals reported inability to access medications, particularly those containing semaglutide. In Texas, which ranks among the top 10 states for obesity rates, nearly 5,000 Hims & Hers customers reported access problems. Research shows that about 30% of Weight Loss customers previously prescribed branded GLP-1s couldn't fill their prescriptions due to unavailability.

Hims & Hers Health (NYSE: HIMS) reported strong Q3 2024 results with revenue reaching $401.6 million, up 77% year-over-year. The company achieved net income of $75.6 million and Adjusted EBITDA of $51.1 million. Subscriber base grew 44% to 2.0 million users. Monthly online revenue per average subscriber increased 24% to $67, while AOV rose 48% to $147. The company raised its full-year 2024 guidance, expecting revenue between $1.460-1.465 billion and Adjusted EBITDA of $173-178 million. Gross margin was 79%, and the company generated $85.3 million in operating cash flow.

Hims & Hers Health (NYSE: HIMS) released a white paper showcasing positive outcomes from their weight loss program. According to the data, customers using oral medication kits lost an average of 7.5 pounds (3.6% of initial body weight) in their first month, while those using compounded GLP-1s lost 9.3 pounds (4.1%). The program shows strong customer satisfaction with 79% reporting met or exceeded expectations and only 13% canceling in the first month. The company's holistic approach includes medication management, nutrition guidance, digital tracking tools, and 24/7 care team access through their app.

Define Ventures, a major venture capital firm focusing on early-stage health tech companies, has appointed Bruce Broussard as venture partner. Broussard, former CEO and president of Humana, brings extensive experience in scaling companies and fostering innovation across various healthcare sectors. His role will involve guiding founders, shaping investment strategies, and strengthening partnerships with large healthcare organizations.

Broussard's decision to join Define Ventures is rooted in his belief in the firm's unique position to transform healthcare. His appointment follows that of Frank Williams, co-founder and former CEO of Evolent, who joined as venture partner earlier this year. Define Ventures, with $800 million in assets under management, partners with companies at seed, series A, and series B stages, including notable firms like Hims & Hers and Unite Us.

Hims & Hers Health, Inc. (NYSE: HIMS) has appointed Dr. Jessica Shepherd as the first Chief Medical Officer of Hers. With nearly 20 years of clinical experience in obstetrics, gynecology, and surgery, Dr. Shepherd will guide the clinical expertise for the Hers brand across sexual health, dermatology, weight loss, and mental health.

The appointment aims to address the women's health gap, as women spend 25% more of their lives in poor health than men. Hims & Hers seeks to provide accessible and affordable personalized care for women, with plans to expand into treatments for specific conditions like menopause and post-partum care.

Dr. Shepherd joins a team of medical leaders at Hims & Hers with over 100 years of combined experience across various health fields, forming the clinical backbone of the company.

Hims & Hers Health, Inc. (NYSE: HIMS), the leading health and wellness platform, has announced it will release its third quarter 2024 financial results on Monday, November 4, 2024, after the market closes. The company will host a live conference call at 5:00 p.m. ET on the same day to discuss the results.

Interested parties can access the conference call by dialing (888) 510-2630 for U.S. participants or (646) 960-0137 for international participants, using the conference ID 1704296. Additionally, a live audio webcast will be available on the company's investor relations website at https://investors.hims.com, where it will remain archived for one year.

Hims & Hers Health (NYSE:HIMS) is set to join the S&P SmallCap 600 index, replacing Vector Group (NYSE:VGR), effective prior to the opening of trading on Wednesday, October 9, 2024. This change is due to JT Group's pending acquisition of Vector Group. The addition of Hims & Hers Health to the index represents a shift in the Health Care sector, while Vector Group's deletion removes a Consumer Staples component.

The S&P SmallCap 600 is part of the S&P Dow Jones Indices, which is the largest global resource for essential index-based concepts, data, and research. S&P Dow Jones Indices, a division of S&P Global (NYSE: SPGI), is known for iconic financial market indicators such as the S&P 500® and the Dow Jones Industrial Average®.

Hims & Hers Health (NYSE: HIMS) has announced a Service Appreciation Initiative offering access to compounded GLP-1 injections for weight loss at $99/month to eligible U.S. military, veterans, teachers, nurses, and first responders. This represents up to a 50% discount on these treatments. The initiative aims to increase access to safe and affordable weight loss solutions for these groups.

Based on self-reported data from approximately 12,000 customers, Hims & Hers reports that customers lost an average of 10.2 pounds on compounded GLP-1 injections and 6.3 pounds on non-GLP-1 compounded oral medication kits after about 4 weeks. The company emphasizes a holistic approach to weight management, including personalized treatment plans by licensed healthcare providers.

Hims & Hers Health (NYSE: HIMS) reported strong Q2 2024 financial results, with revenue reaching $315.6 million, up 52% year-over-year. The company achieved net income of $13.3 million and Adjusted EBITDA of $39.3 million. Subscribers grew to 1.9 million, a 43% increase year-over-year. Hims & Hers raised its full-year 2024 guidance, projecting revenue between $1.37 billion to $1.40 billion and Adjusted EBITDA between $140 million to $155 million. The company's growth strategy, focusing on affordable and personalized health solutions, continues to resonate with consumers, driving both revenue growth and profitability.